The real estate market in Edmonton still appears to be soft and I expect it to continue to be soft until after the September long weekend. Time will tell if the market will balance itself and we will see valuations stop to drop. As of this morning there were 3,364 single family homes listed for sale in Edmonton proper. In the previous 30 days 537 single family dwellings were sold in Edmonton proper. This would give us a listing to sales ratio of 6.26:1 which is an increase over last week’ ... Full Article...

The real estate market in Edmonton still remains soft. Concerns about economic recoveries, and people sitting on the fence waiting to see where the market will bottom out is holding back our market. These people on the fence are probably just hurting themselves by waiting. The problem here is that by the time they will know that we have reached the bottom it will be too late and the market will have already started going up. I have seen this so many times in both the real estate market and the ... Full Article...

  I do not think that we have hit bottom as prices are not stabilizing yet. I am still hopeful for the market to stabilize by the time September comes around and we are past our typical seasonal slowdown. As of this morning there were 3,314 single family dwellings for sale in Edmonton proper. That is only a slight increase over last week which means the inventory level is staying pretty constant at the moment. In the previous 30 days there were 541 single family homes sold in Edmonton proper. ... Full Article...

  If you recall over the last few weeks I have been letting you know that there was downward pressure on valuations. I attributed this to two factors, the first one being the softening of the economy that we seem to be experiencing right now. As a matter of fact, on the radio today as I was driving back to my office they were commenting how merchants were having big sales right now because they have so far had such a slow summer season. The second reason that I was attributing the softening of ... Full Article...

  Well I think it is time to pull our boots up and get ready. Back in 2007 when the market turn around on us so violently we went from a listings to sales ratio of close to 1.5:1 and overnight went to slightly over 7:1 and we had the quickest and most sever reversal of valuations I have experienced in my 25 years of being a realtor and investment advisor. If you have been following this column you know that we need a ratio of 4:1 for a neutral or balanced market. As of this morning in Edmonton ... Full Article...